2 months, 3 weeks ago From www.cattletradercenter.com
The U.S.’s net beef exports have grown appreciably in the last few months. Net exports (beef exports minus imports) grew to 72.3 million pounds in July.
From January through, the U.S. exported 42 million more pounds of beef than it imported.
During the same seven months in 2012, the U.S. imported 30 million more pounds of beef than it exported.
Net beef exports can grow through increased exports, lower imports, or a combination of both.
In the last few months, it has been both higher exports and lower imports contributing to the increase in net beef exports.
Exports to Canada and Mexico both increased in July relative to a year ago.
For both countries, increased imports of U.S. beef have likely resulted from smaller domestic beef supplies following liquidation of their cattle herds in the last couple of years.
Exports to South Korea (historically one of the top four buyers of U.S. beef) have not faired as well in 2013.
In July, the U.S. exported 27% less beef to South Korea than in July 2012 and exports to the country have averaged 26% lower for the first seven months of 2013.
Exports to other Asian countries have improved, though, in 2013. In particular, beef exports to Taiwan and Hong Kong have increased by 166% and 70%, respectively, for the January-July period. Many of these exports are believed to reach China, a potentially large-growth market for beef.